03:34 PM EDT, 03/20/2024 (MT Newswires) -- Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index adding 1.2% and the Financial Select Sector SPDR Fund (XLF) up 1.1%.

The Philadelphia Housing Index climbed 1.7%, while the Real Estate Select Sector SPDR Fund (XLRE) was up 0.5%.

Bitcoin (BTC-USD) rose 0.1% to $65,268, and the yield for 10-year US Treasuries was decreasing 1.7 basis points to 4.28%.

In economic news, the Federal Open Market Committee maintained the federal funds rate in a range of 5.25% to 5.5%, the FOMC's statement Wednesday afternoon showed.

Separately, mortgage applications fell for the first time in three weeks as rates across most loan types rose, following February's stronger-than-expected inflation print, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, fell 1.6% for the week ended March 15.

In corporate news, Barclays ( JJCTF ) is looking to cut hundreds of jobs within its investment bank unit, Bloomberg reported Wednesday. Its shares gained 2.8%.